Kraken parent Payward has agreed to acquire Hong Kong-based Reap Technologies for up to $600 million, expanding into stablecoin payments and business-to-business (B2B) financial infrastructure.
Payward has entered into a definitive agreement to acquire Reap for up to $600 million announced Thursday. The transaction is to be repaid in cash and Payward stock, in a transaction that values ​​Payward’s equity at $20 billion. It would expand Payward Services, the company’s B2B infrastructure platform fired in March 2026
The deal comes at a time when crypto companies are increasingly moving beyond trading services towards payment infrastructure and stablecoin-related products, as stablecoins gain popularity among fintech companies and enterprises.
In a statement Thursday, the co-founders of Reap he said the platform will continue to operate as a standalone platform, adding that the transaction is still subject to customary regulatory approvals and is expected to close in the second half of 2026.
Reap expands paid services to global cards and payments
Payward Services enables companies to integrate trade, payment, financing and digital asset services in one system.
The acquisition of Reap expands this platform into the global card and payments space, enabling partners to embed card issuance, cross-border payments and stablecoin treasury services alongside Payward’s existing capabilities.
Source: Kraken
“Reap is the payments layer for what’s next. Card networks, banking rails and blockchains in one API, settling in stablecoins,” Payward and Kraken co-CEO Arjun Sethi said in the announcement.
Related: Kraken Parent Payward Closes Bitnomial Deal to Expand US Crypto Derivatives
The acquisition of Reap follows Payward’s acquisition of exchange Bitnomial, futures broker NinjaTrader and issuer xStocks Backed, as it continues to expand its platform through targeted acquisitions.
Reap deal deepens focus on Asia
Reap was founded in 2018 by Daren Guo, who previously worked for Asia Pacific at payments company Stripe, and former investment banker Kevin Kang, According to to your website.
The company specializes in providing payment solutions that combine conventional financial systems with digital assets, aimed at enabling cross-border money flows.
Sethi reports he said that the transaction marks Payward’s first infrastructure acquisition in Asia and one of the largest transactions in its history to date.
“If we exclude Europe, the fastest growing market is Asia, not only in terms of revenue but also in terms of assets on the platform,” Sethi said, adding: “They have already done it in Asia. With us, they can expand to the US overnight.”
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